discuss The bitcoin thread

[JudgeMind]

Updated: The Bitcoin crash is over...Here comes 2014!!


The rise and fall of the bitcoin.... The price of bitcoin is plummeting as i write this.

 

[iowadawg]

Bitcoin Flash Crashes, Drops By 80% In Seconds

Now that Bitcoin exchange Mt.Gox has terminally discredited itself following the latest, and likely last, withdrawal halt announced late last week which sent the value of Bitcoin tumbling by 25%, Bitcoin traders are left with just two exchange options on which to transact: BTC-e and Bitstamp. And for those using the former to buy and sell the virtual digital currency, things went from bad to worse a few short hours ago, when Bitcoin had its very own "Waddell and Reed" moment, when the price of Bitcoin cratered by over 80% in the span of seconds, after a modest block of just under 6000 Bitcoins sent the price plunging from over $600 to $102.

Read HERE.

 

[Kenny]

I think the money under my mattress is safer these days, lol

ummm, where exactly do you live?

Peace,
Cy

 

[accent]

There is a arms race between code writers and hackers. Hackers improve with time, can Bitcoin software evolve? Perhaps it can, but I don't see how.

Regardless, the US Government will hack it to pieces once their friends the banksters think it is a problem.

 

[NPer]

Bitcoin Flash Crashes, Drops By 80% In Seconds

Now that Bitcoin exchange Mt.Gox has terminally discredited itself following the latest, and likely last, withdrawal halt announced late last week which sent the value of Bitcoin tumbling by 25%, Bitcoin traders are left with just two exchange options on which to transact: BTC-e and Bitstamp. And for those using the former to buy and sell the virtual digital currency, things went from bad to worse a few short hours ago, when Bitcoin had its very own "Waddell and Reed" moment, when the price of Bitcoin cratered by over 80% in the span of seconds, after a modest block of just under 6000 Bitcoins sent the price plunging from over $600 to $102.

Read HERE.

Yes... I saw it. Funny how I decided to short BTC last Friday. :D

I never closed my position-was too brief... This reiterates something: that the buying support for BTC is weak! And getting weaker. Saw this coming a fewe months back. It's trading way above the long term average. The price is being held up by people who have an interest to hold it up there.... with fake buy support: buy from yourself, sell to yourself.. these unregulated markets are crazy.

Non-americans, who are the majority of BTC holders, are more than satisfied with the deterioration of their currency against the USD, for them to ditch BTC right now.

USD will always rock.

Makes sense to me.

 

[MicroGuy]

​

if its one of those script coins, its worthless.

It's not that valuable currently, but we're make quite a bit of improvements on the original Satoshi design.

If you're in New York in April stop by the cryptoconvention and say hello: http://www.cryptocurrencyconvention.com/

 

[johname]

I don't see anything to worry about, as long as people keep investing in BTC.

Thats what kept Bernard Madoff out of jail so long

 

[Kenny]

I'm not sure why this thread is in Industry News, but here is a little side note:

Bitcoin’s skyrocketing value ushers in era of $1 million hacker heists
At least three Bitcoin exchanges report high-stakes robberies this month.

A company billing itself as one of Europe's biggest Bitcoin exchanges said it suffered a coordinated attack that succeeded in stealing almost $1 million worth of the digital currency, marking the latest in a string of high-stakes heists hitting companies that hold large sums online.

Kris Henriksen, CEO of Denmark-based Bitcoin Internet Payment Services (BIPS), made that claim last week in a Web post that said the attack began as a distributed denial-of-service (DDoS) attack. Two days later, Henriksen said, the same attackers targeted the BIPS network again and managed to use the damage they previously inflicted to somehow tamper with the channel that connects BIPS data storage systems to company servers.

"On November 15, BIPS was the target of a massive DDoS attack, which is now believed to have been the initial preparation for a subsequent attack on November 17 that overloaded our managed switches and disconnected the iSCSI connection to the SAN on BIPS servers," the CEO wrote. "Regrettably, despite several layers of protection, the attack caused vulnerability to the system, which has then enabled the attacker/s to gain access and compromise several wallets."


http://arstechnica.com/security/201...lue-ushers-in-era-of-1-million-hacker-heists/

Feeling safe?

Peace,
Cy

 

[PlusNames]

My brother invested $9k or so and has more than doubled it by now

 

[JB Lions]

Bitcoin exchanges shut down after threat from India's central bank

http://www.engadget.com/2013/12/27/indian-bitcoin-exchanges-shut-down/

 

[.NJ]

I
looks like most crypto's are down today, anyone know why?

http://www.bloomberg.com/news/2014-...-bitcoin-exchange-subject-of-u-s-charges.html

 

[iowadawg]

Head of Online Currency Exchange Found Dead in Singapore

http://www.nbcnews.com/business/bus...currency-exchange-found-dead-singapore-n45101

 

[Kenny]

Head of Online Currency Exchange Found Dead in Singapore

http://www.nbcnews.com/business/bus...currency-exchange-found-dead-singapore-n45101

And the hits just keep on coming...

Peace,
Cy

 

[iowadawg]

And with the bitcoin crash?
The bitcoin domains will come crashing down.
https://www.namepros.com/domain-name-discussion/809336-showcase-your-bitcoin-domains.html

 

[Ralph2472]

And with the bitcoin crash?
The bitcoin domains will come crashing down.
https://www.namepros.com/domain-name-discussion/809336-showcase-your-bitcoin-domains.html

I just thought I'd check a few bitcoin names.
These have already been taken.

BitcoinCrash
BitcoinCrashing
BitcoinFailure



So somebody is hedging their bets.

Regards

ralph.

 

[JB Lions]

Newsweek says they found the founder, check out the angry comments - http://mag.newsweek.com/2014/03/14/bitcoin-satoshi-nakamoto.html

 

[MicroGuy]

I've been away for a while immersed in the Bitcoin underworld.

During this period I've discovered what I believe will be a contender in the future of digital currency. It's called Goldcoin (GLD). Check it out and let me know if you would like a couple hundred free Goldcoins. Got to take care of all my old Namepros friends after all!

Find me here >>>>> http://www.microguy.com

 

[MicroGuy]

How much is it per coin?

Currently, it is around one penny per coin and ranked #38.

http://cryptmarketcap.com/

 

[iowadawg]

More about bitcoin can be found on this thread:
https://www.namepros.com/domain-name-discussion/810698-the-bitcoin-crash-is-happening.html
And more about other coins also in that thread.

See, no need to open up another thread to supplement another thread.

 

[Keith]

Potcoin :bingo:

 

[iowadawg]

Anonymous hackers uncover alleged proof of MtGox fraud from site’s CEO

http://arstechnica.com/tech-policy/...-alleged-proof-of-mtgox-fraud-from-sites-ceo/

 

[iowadawg]

Sound familiar? Bitcoin exchange Vircurex freezes customer accounts as it battles insolvency

http://thenextweb.com/insider/2014/...ddp&utm_campaign=pro&utm_source=social#!A45rw

 

[biggie]

:talk:


Ralph, not a sales tax, but more like capital gains tax.

hmmm Do I hear BitCrikets

 

[Traveler]

Bitcoin has crashed many times, in January of this year it was $12 or $13, right now it is around $800 - $900. Even with this crash it won't go back to those prices, nothing even close. I don't own any bitcoin, but have been watching it.

It is really only a set back for people that bought in the last week. All the crypto currencies at this point are experiencing tulip mania. I think they are just going to keep going up. Maybe at some point there will be some flaw that gets exploited and bring them all to zero. But it is tulip mania on a global scale. Lots of people are going to make silly amounts of money and lots of people are going to lose just as much.

 

[forge]

The OP made this announcement to plug his own website.

 

[Deaol]

Over the weekend I was able to Sell @ $1100 on LBC (localbitcoin) buy back at $710 on BTC-E and now they are back around the $900 mark or so. Easiest money i have ever made in my life.